Validity & Ledger Tier
Court-record-grade append-only event log with SHA-256 canonical encoding.
axiom-validity-tupleaxiom (ledger)
PR #634 merged 5/15/26 — H0-canonical landed
Full Circle Asset Recovery
Securing What’s Yours.
We are an asset recovery company that built its own proprietary AI. Our systems autonomously scan court filings, skips, and ledgers to capture lost assets.
0
Active deals (court-filed)
Signed + documents received + court-filed
$0
Excess proceeds in motion
Gross claim value across active book
0
States — active
States w/ a signed case currently filed
$0
Outside capital
Bridge loan — only non-founder capital to date
FCAR flywheel: a 4-step compounding loop. Step 1 of 4 begins below.
Verticals — 4 Tiers
Cash today. Capital recycling next round. Platform extensions after.
Cash Engine
Pays the bills now.
Capital Recycling
This round unlocks these.
Platform Extensions
The platform sells itself.
Adjacent
We know what's near. We don't promise it.
The Moat — Proprietary AI
Four owned surfaces. Built — not bought.
Memory Tier
Embeddings + summarization + cryptographically-anchored keys.
axiom-embeddingaxiom-summaryaxiom-aaak
ADR-0001 (Embedding), ADR-0002 (Summary), ADR-0003 (AAAK) merged 5/15/26
Browser & Action Tier
Sandboxed agent web automation + MCP-host action execution.
axiom-browser-sidecaraxiom-browser-ipc-protocolaxiom-mcp-sidecar
Wave 4 tool-safety (Landlock fail-closed + LRU idempotency + CostGate) merged
Operator Surface
Tauri-native mission-control dashboard for live agent fleet.
axiom-space
vGA.0 release candidate state
Court-record-grade agent infrastructure.
Proof of Compounding
This is what the platform buys you.
Cycle time ▼
Signing → disbursement. Target: 95d → 45d.
Baseline = 2025 monthly mean. Vertical line = projection start. (Q7: data placeholder pending Carl)
CAC ▼
Cost per signed claim. Target: $508 → $200.
Baseline = 2025 monthly mean. Vertical line = projection start. (Q7: data placeholder pending Carl)
Deals filed / mo ▲
Court-filed contingency claims per month.
Baseline = 2025 monthly mean. Vertical line = projection start. (Q7: data placeholder pending Carl)
Financial Performance
Contribution margin attractive at deal level. Operating losses driven by deliberate AI investment in advance of pipeline conversion.
| Period | Total recovered (clients) | Company revenue | Direct costs | Operating expenses | Net income |
|---|---|---|---|---|---|
| FY 2024 | $355K | $94K | $44K | $100K | $-6K |
| FY 2025 | $876K | $239K | $58K | $262K | $-81K |
| 2026 YTD (Jan-Apr) | $1.2M | $93K | $29K | $75K | $-11K |
Unit economics — average contingency deal
Canonical waterfall (historical 30% split, shown for reference). Realized split varies 12%-40% by deal — see verticals drawer.
| Gross recovered | $67,857.00 |
| Attorney fee (5% or $2.5K min) | -$3,393.00 |
| Case costs (notary/filing/wire) | -$500.00 |
| Net surplus to split | $63,964.00 |
| Client payout (70% — historical median) | -$44,775.00 |
| Company gross | $19,189.00 |
| Agent commission (25% of company) | -$4,797.00 |
| Company net take-home | $14,392.00 |
The Ask
$2M–$3M raise. 16.67% investor stake (pre scales 5× raise).
Cap-table matrix
| Raise | Pre-money | Post-money | Investor % | Founders % |
|---|---|---|---|---|
| $2M | $10M | $12M | 16.67% | 83.33% |
| $2.5M | $13M | $15M | 16.67% | 83.33% |
| $3M | $15M | $18M | 16.67% | 83.33% |
Use of proceeds (at $2M raise)
| Allocation | Amount | % | Milestone |
|---|---|---|---|
| Buyout inventory | $750K | 37.5% | 100 buyouts deployed at avg $7.5K w/ 3-5× ROI |
| Platform scaling | $400K | 20.0% | Cycle 60d → 45d; CAC ↓ 60% |
| Geographic expansion | $400K | 20.0% | 14 → 25 states active |
| Medicaid vertical | $250K | 12.5% | OH-only → 5-state coverage |
| Sales & marketing | $150K | 7.5% | Blended CAC ↓ to $200 |
| Operating reserve | $50K | 2.5% | Runway buffer, legal & compliance |
Series A trigger: $4M TTM company revenue, 35% gross margin, 5 verticals live (Q8 — Carl to confirm).
The Team
Cap table: 100% founders. CTO + COO compensated via rev-share / consulting — expensed as opex.
Carl O'Neal
Co-Founder & Managing Partner
50% equity
Top closer with $1.6M+ in personal commissions. Architect of FCAR's proprietary AI platform.
Q6 — full PE-deck bio with one specific anecdote
Matthew Joffre
Co-Founder & Managing Partner
50% equity
Business development + strategic partnerships. Co-founded Evokanna (regulated-industry exit).
Q6 — full PE-deck bio with Evokanna anecdote
LinkedIn →Deshawn Fentress
Chief Operating Officer
Rev-share: 5% base + 10% legacy callers + 20% new team (no equity)
Director of Project Management at NorthEast Electrical Distributors (Brockton MA). High-throughput logistics + vendor mgmt.
Q2 — full resume material (Thayer Academy + prior roles + named clients)
LinkedIn →Nayeem Syed
Chief Technology Officer
Contracted via NSM Technologies UK at $7,000/mo (no equity)
Business automation specialist. AI + workflow automation track record.
Q3 — full resume material from NSM Technologies engagement
LinkedIn →Talk to us
Request data-room access or book a founder call.
Confidential — do not redistribute. © Full Circle Asset Recovery, LLC.